Blunt bill aims to reduce federal property portfolio

“With limited resources, the federal government needs to explore opportunities for cost savings,” Blunt said in the release. “This bipartisan legislation seizes on the opportunity to save billions of taxpayer dollars over the next decade by simply consolidating and maximizing the footprint and use of federal buildings and facilities.” 

The legislation would establish an independent commission comprising real estate management professionals who would be charged with reviewing the government’s property portfolio and developing recommendations for consolidation or disposal. Upon approval by the president, the recommendations would be submitted to Congress. If Congress does not pass a resolution of disapproval within 45 days, the commission’s recommendations would be fully implemented.

The federal government is the largest property owner and manager in the U.S., with more than 1 million buildings, structures and land parcels, according to the release.